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The Dow Jones Industrial Average climbed 0.88percent last week. The S&P 500 Index increased

0.67 percent, the Nasdaq 0.44 percent, and theMSCI EAFE Index 0.38 percent. The Russell 2000Index fell 0.03 percent.

The Fidelity Select Sector Portfolio advanced0.50 percent on the week, the ETF InternationalPortfolio 0.32 percent. Both the ETF Sector Portfo-lio and ETF Blended Portfolio increased 0.07 per-cent.

In 2017, the Nasdaq has increased 9.06 percent,the S&P 500 Index 6.44 percent, the Dow Jones In-dustrial Average 6.29 percent, the MSCI EAFEIndex 4.35 percent and the Russell 2000 2.72 per-cent.

The ETF International Portfolio has returned7.18 percent year-to-date, the ETF Sector Portfolio4.86 percent, the ETF Blended Portfolio 4.85 per-cent, and the Fidelity Select Sector Portfolio 3.04percent.

Healthcare Services (FSHCX) climbed five

spots in last week’s rankings. Biotechnology(FBIOX) moved up four places and IT Services(FBSOX) three.

Energy (FSENX) fell five places in the rank-ings. Natural Gas (FSNGX) and Natural Resources(FNARX) each declined four.

iShares U.S. Home Construction (ITB) climbedeleven spots last week. SPDR S&P Biotech (XBI)rose nine, First Trust Biotechnology (FBT) seven,and iShares Biotechnology (IBB) seven.

First Trust ISE Revere Natural Gas (FCG),SPDR Oil & Gas Exploration & Production (XOP)and VanEck Junior Gold Miners (GDXJ) all lost rel-ative momentum.

Guggenheim China Small Cap (HAO) andWisdomTree International Hedged Quality Divi-dend Growth (IHDG) both advanced nine places.WisdomTree India Earnings (EPI) climbed eight.

Global X Colombia (GXG) fell sixteen spots inthe rankings. iShares MSCI Japan (EWJ) andiShares MSCI Peru (EPU) each declined six places.

MARCH 6, 2017

SECTOR MOVERS 1

FIDELITY 2-4

ETF SECTOR 4-9

ETF INTL 10-14

ETF BLENDED 15

DISCLOSURE 17

MUTUALFUNDINVESTORGUIDE.COM

GLOBAL MOMENTUMGUIDE

Matthew D. Sauer

Founder & Chief Investment Officer

Matthew Sauer is the Founder and Chief Investment Officer of theMutual Fund Investor Guidefamily of newsletters.

Each month he analyzes andprovides buy, sell and holdrecommendations for hundreds of mutual fundsand ETFs in three newsletters: The InvestorGuide to Fidelity Funds, The ETF Investor Guide andThe Investor Guide to Van-guard Funds.

Prior to starting the MutualFund Investor Guide, Matthew was President andChief Investment Officer ofthe Fidelity Independent Ad-viser, ETF Report & SectorMomentum Tracker newslet-ters.

Fidelity Select Sector Portfolio

WEEKLY SECTOR MOVERS

Trades

Sell

No Trades No Trades

ETF Sector Portfolio

No Trades No Trades

ETF International Portfolio

Norway (NORW) Europe Hedged Equity (HEDJ) Peru (EPU) Australia (EWA)

ETF Blended Portfolio No Trades No Trades

Buy

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GLOBAL MOMENTUM GUIDE

Banking FSRBX 1 1 1 1 1 1 1 1 1 1 1 1 1Energy Services FSESX 5 3 2 2 2 2 2 2 2 2 2 2 2Financial Services FIDSX 7 7 7 7 5 4 4 6 5 4 3 3 3Semiconductors FSELX 3 5 4 4 4 5 4 5 4 3 4 4 4Chemicals FSCHX 18 17 17 17 17 17 15 12 10 9 8 6 5Computers FDCPX 13 15 15 16 16 16 16 17 15 12 10 8 6Brokerage FSLBX 10 9 9 9 9 8 8 8 8 8 6 6 7Transportation FSRFX 4 4 5 5 6 6 6 4 5 5 5 5 8Air Transport FSAIX 6 6 6 6 7 7 7 7 7 7 7 9 9Multimedia FBMPX 23 23 19 19 19 19 18 15 11 10 11 10 10Technology FSPTX 19 20 22 22 23 22 22 21 20 15 14 12 10Consumer Finance FSVLX 15 12 10 10 10 10 10 9 9 11 12 11 12Environmental Svcs FSLEX 16 16 16 15 15 14 14 13 13 13 13 13 13Defense & Aero FSDAX 9 10 11 12 13 12 12 16 16 16 16 15 14Insurance FSPCX 14 13 12 11 11 11 11 11 13 14 15 16 15Materials FSDPX 22 19 20 20 20 20 21 19 19 18 17 17 16Industrials FCYIX 17 17 18 18 18 18 19 18 18 19 18 18 17Natural Gas FSNGX 2 2 3 3 3 3 3 3 3 6 9 14 18Software FSCSX 20 21 23 25 25 24 24 23 23 21 20 19 19Wireless FWRLX 32 34 30 27 27 27 28 28 26 25 24 21 20Comm Equip FSDCX 12 14 14 14 14 15 17 19 22 23 21 20 21Automotive FSAVX 34 32 31 31 29 28 27 25 24 24 23 22 22Healthcare Svcs FSHCX 31 30 33 33 33 31 30 30 29 29 29 28 23S&P 500 Index SPX 25 25 25 26 26 26 26 27 27 27 27 26 24Industrial Equip FSCGX 21 21 21 21 21 23 23 24 25 26 26 24 25Telecommunications FSTCX 28 26 26 23 22 21 20 21 21 22 25 25 26IT Services FBSOX 27 28 28 29 28 29 29 29 30 30 30 30 27Energy FSENX 8 8 8 8 8 9 9 10 12 16 19 23 28Leisure FDLSX 24 24 24 23 24 25 25 26 28 28 28 29 29Biotechnology FBIOX 30 33 34 35 35 34 35 35 36 36 34 34 30Natural Resources FNARX 11 11 13 13 12 13 13 14 17 20 21 27 31Constr & Housing FSHOX 33 31 31 32 32 33 33 33 32 32 32 32 32Medical Equip FSMEX 35 35 36 37 38 36 36 36 35 34 35 35 33Consumer Discr FSCPX 29 29 29 30 31 31 31 31 31 31 31 31 33Retailing FSRPX 26 27 27 28 29 30 32 32 32 33 32 32 35Utilities FSUTX 37 37 35 34 34 35 34 34 34 35 36 36 36HealthCare FSPHX 39 39 39 39 39 39 39 39 38 38 38 38 37Consumer Staples FDFAX 38 38 38 38 36 37 37 37 37 37 37 37 38Gold FSAGX 41 41 41 41 41 41 41 41 40 40 39 39 39Government Income FGOVX 36 36 37 36 37 38 38 38 39 39 40 40 40Pharmaceuticals FPHAX 40 40 40 40 40 40 40 40 41 41 41 41 41

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FIDELITY SECTOR MOMENTUM RANKINGSName Symbol 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3


FIDELITY SECTOR PERFORMANCE RETURNSName Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year

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Air Transport FSAIX 76.45 0.61 0.51 1.84 4.43 4.86 21.15 22.50 2.92 23.59Automotive FSAVX 37.38 0.67 -0.27 0.35 1.47 10.66 7.35 9.55 6.98 12.59Banking FSRBX 34.10 1.34 1.01 3.74 5.25 12.03 31.74 34.32 5.90 47.78Biotechnology FBIOX 207.99 5.83 3.80 7.85 11.56 12.84 13.89 9.37 19.50 25.77Brokerage FSLBX 72.01 0.33 0.22 2.78 4.30 7.97 18.12 19.53 6.59 25.89Chemicals FSCHX 164.44 0.55 1.88 3.40 4.01 11.85 18.13 20.84 11.56 37.26Comm Equip FSDCX 34.20 -0.41 -0.12 3.70 7.08 5.79 11.10 20.60 4.24 26.24Computers FDCPX 83.72 0.72 2.11 3.23 6.99 14.58 19.95 30.30 12.86 36.45Constr & Housing FSHOX 62.77 1.98 3.09 3.58 5.64 8.76 6.39 7.80 6.64 17.87Consumer Discr FSCPX 37.29 0.11 0.03 0.92 2.22 5.19 5.28 9.19 5.52 13.12Consumer Finance FSVLX 14.03 -0.07 0.36 1.81 4.55 8.49 15.53 17.15 4.86 28.37Consumer Staples FDFAX 97.22 -0.30 1.01 2.52 5.59 11.36 3.77 5.90 8.18 10.30Defense & Aero FSDAX 138.53 0.93 1.31 3.16 6.99 6.06 16.63 21.26 7.28 32.54Energy FSENX 44.46 1.00 -1.98 -3.64 -2.93 -5.63 5.14 10.40 -4.92 29.36Energy Services FSESX 54.42 -0.33 -1.38 -3.87 -3.95 4.08 21.15 26.74 -2.47 34.08Environmental Svcs FSLEX 24.07 0.33 0.80 2.12 3.88 9.07 14.66 20.09 6.74 29.19Financial Services FIDSX 104.37 1.06 1.10 3.42 5.25 10.60 22.10 25.77 5.72 34.47Gold FSAGX 20.49 -7.79 -10.52 -11.98 -5.97 9.45 -11.47 0.84 6.94 14.59Government Income FGOVX 10.15 -0.88 -0.39 -0.49 -0.20 -0.22 -3.34 -1.86 -0.04 -1.17HealthCare FSPHX 211.64 2.30 2.53 4.65 7.58 14.43 5.33 6.64 14.52 15.31Healthcare Svcs FSHCX 90.80 1.40 3.75 4.69 5.15 8.97 12.89 9.59 10.05 17.20Industrial Equip FSCGX 40.91 0.54 0.15 1.09 3.33 4.55 7.94 12.37 4.58 18.73Industrials FCYIX 33.97 0.38 -0.12 1.04 3.19 5.83 12.09 15.98 5.01 22.86Insurance FSPCX 81.32 0.88 1.41 2.57 5.16 7.62 15.05 17.72 4.85 28.18IT Services FBSOX 45.18 0.13 1.80 3.48 6.99 8.87 10.14 8.37 7.80 18.37Leisure FDLSX 141.91 0.04 -0.97 -0.20 3.18 2.58 7.26 11.14 3.70 8.88Materials FSDPX 82.27 0.17 0.44 1.33 1.78 8.09 11.30 14.30 8.12 27.47Medical Equip FSMEX 42.01 1.13 2.04 4.55 6.41 15.98 2.86 14.03 14.10 31.14Multimedia FBMPX 80.84 -0.76 -0.27 0.63 0.11 10.23 17.26 16.96 8.50 22.41Natural Gas FSNGX 27.78 -0.07 -2.73 -5.16 -4.57 -5.37 9.18 13.21 -6.09 41.70Natural Resources FNARX 29.37 0.79 -2.10 -3.61 -2.94 -4.89 3.86 9.13 -3.96 27.81Pharmaceuticals FPHAX 18.36 1.32 1.72 4.73 7.68 8.53 -3.09 -4.44 7.75 0.21Retailing FSRPX 116.06 0.06 0.45 1.43 3.38 5.90 6.12 9.04 5.78 14.33S&P 500 SPX 2383.12 0.67 1.36 2.89 4.54 8.38 9.77 13.20 6.44 19.55Semiconductors FSELX 102.20 0.32 0.59 3.35 3.74 9.79 17.51 33.99 6.99 46.47Software FSCSX 141.82 -0.20 0.30 1.39 3.94 9.93 9.98 17.02 10.11 28.42Technology FSPTX 148.09 0.33 0.61 2.06 5.25 14.75 14.94 25.19 13.80 34.90Telecommunications FSTCX 69.90 -1.34 -0.75 -0.47 -0.55 6.35 6.12 9.99 0.11 15.66Transportation FSRFX 93.66 0.70 -0.03 1.10 2.96 4.98 20.25 26.85 3.96 26.96Utilities FSUTX 76.79 -0.08 3.28 4.16 6.46 11.96 8.21 7.22 7.73 15.83Wireless FWRLX 9.21 0.88 1.77 3.60 4.42 14.25 12.81 17.24 9.64 21.43

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FIDELITY SELECT SECTOR RETURNSPERIOD PORTFOLIO BENCHMARK S&P 500 Nasdaq Dow Russell 2000

FIDELITY PORTFOLIO HOLDINGSRANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT

THIS WEEK’S FIDELITY TRADE RECOMMENDATIONSAt the close of trading on March 6, 2017 we will make the following trades.Proceeds from multiple fund sales should be split evenly between new pur-chases. We hold each Fidelity fund for 30 days to avoid a short-term trading feeeven if it falls out of the top 10.


YTD 3.04 6.44 9.06 6.29 2.721 Week 0.50 0.67 0.44 0.88 -0.034 Week 1.39 3.73 3.60 4.65 1.1813 Week 5.39 8.72 11.70 9.57 6.0726 Week 7.81 9.32 11.83 13.59 11.361 Year 23.66 19.16 24.46 23.51 28.85Inception* 118.47 89.50 125.35 71.93 88.16

1 Banking FSRBX 739.02 34.10 $25,200.74 11/14/16 11.53%2 Energy Services FSESX 423.41 54.42 $23,042.04 10/24/16 10.55%3 Financial Services FIDSX 189.10 104.37 $19,736.50 11/28/16 9.03%4 Semiconductors FSELX 279.61 102.20 $28,575.85 06/20/16 13.08%5 Chemicals FSCHX 129.24 164.44 $21,252.15 02/06/17 9.73%6 Computers FDCPX 247.37 83.72 $20,710.14 02/27/17 9.48%7 Brokerage FSLBX 280.47 72.01 $20,196.45 12/12/16 9.24%8 Transportation FSRFX 225.02 93.66 $21,075.32 11/21/16 9.65%9 Air Transport FSAIX 241.36 76.45 $18,452.02 11/28/16 8.45%10 Multimedia FBMPX 250.28 80.84 $20,232.69 02/13/17 9.26% $218,473.90 100.00%

2/27/2017 Natural Gas FSNGX 732.80 24.47 $17,931.71 27.96 $20,574.08 $2,642.37

Last Week’s Sell TransactionsDate Fund Symbol Shares Buy Value Sell Proceeds Profit

No Trades

*Inception on 12/31/2011

No Trades

Sell

Buy

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ETF SECTOR MOMENTUM RANKINGSName Symbol 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3

Glb X Copper Miners COPX 3 3 2 3 4 3 2 1 1 1 1 1 1Glb X Uranium URA 94 87 85 82 69 47 27 13 7 5 3 2 2VanEck Steel SLX 2 1 1 1 1 1 1 2 2 2 2 2 3SPDR S&P Reg Bank KRE 5 5 4 2 2 2 3 3 3 4 5 4 4iShares US Reg Banks IAT 7 7 7 5 5 5 5 6 6 7 7 7 5SPDR S&P Bank KBE 6 6 5 4 3 4 4 4 5 6 6 6 6SPDR Metals & Mining XME 4 4 6 6 6 6 6 5 4 3 4 5 7iShares US Broker Dealers IAI 8 8 8 8 8 7 7 8 8 8 8 8 8iShares US Financial Svcs IYG 10 9 9 9 10 10 10 10 11 11 10 10 9iShares Semiconductor SOXX 9 10 10 10 12 12 12 11 11 10 9 9 10SPDR Financial XLF 11 11 11 12 11 11 13 14 14 13 13 12 11VanEck Coal KOL 1 2 3 7 7 8 9 9 10 11 12 11 12VanEck Rare Earth REMX 42 38 40 41 39 35 30 27 17 16 14 13 13SPDR Oil & Gas Equip XES 18 12 12 11 9 9 8 7 9 9 11 14 14PShrs DB Base Metals DBB 12 14 17 20 23 23 18 17 15 15 16 15 15SPDR S&P Cap Mkt KCE 22 20 19 21 18 17 16 18 18 19 18 17 16ETFS Palladium PALL 15 18 27 30 30 26 24 23 21 18 17 16 17iShares US Finance IYF 25 25 23 23 19 18 17 19 19 20 21 21 18SPDR S&P Insurance KIE 20 21 21 19 20 19 19 20 22 21 22 22 19iShares DJ Transports IYT 16 17 15 15 15 15 15 15 16 17 19 20 20iShares NA Networking IGN 13 16 16 16 16 16 19 22 23 22 20 19 20iShares US Insurance IAK 24 21 19 18 20 20 21 21 24 23 23 23 22iShares US Oil Equip IEZ 17 15 13 13 13 13 11 12 13 14 15 18 23iShares US Aero & Defense ITA 19 23 24 25 25 25 26 28 28 28 26 25 24iShares US Technology IYW 33 33 34 35 35 36 37 38 33 31 28 26 25iShares Russell2000 IWM 22 24 22 21 22 21 22 24 25 24 24 24 26SPDR Industrial XLI 28 28 29 28 29 29 29 29 31 30 30 30 27iShares NA Technology IGM 35 35 36 37 38 38 39 41 40 35 33 31 28SPDR DJIA DIA 39 36 33 32 32 31 34 34 34 34 34 32 29iShares US Basic Materials IYM 37 32 32 33 33 34 35 32 30 29 29 29 29PShrs Dyn Leisure PEJ 26 26 25 24 24 24 25 25 26 26 25 27 31SPDR Technology XLK 41 40 38 38 43 41 44 45 43 41 36 34 32Glb X Lithium LIT 53 54 58 55 51 48 42 36 29 27 27 28 33iShares US Industrial IYJ 30 31 31 31 31 33 36 37 35 38 37 35 34PShrs Private Equity PSP 44 43 42 44 43 39 38 39 37 33 32 33 34SPDR Biotech XBI 40 47 56 60 60 59 59 61 59 57 50 46 36FrTrust DJ Internet FDN 34 37 37 42 45 44 41 42 42 39 38 37 37VanEck Ag Business MOO 49 49 45 47 47 46 46 43 41 35 35 36 38iShares NA Software IGV 47 52 60 59 60 62 62 59 57 53 51 44 39SPDR Basic Materials XLB 44 41 39 38 42 40 42 40 39 40 39 38 39Guggenheim Shipping SEA 69 66 65 64 63 61 54 51 48 47 42 39 41Guggenheim Timber CUT 48 50 48 49 49 50 49 47 46 42 41 39 42PShrs NASDAQ Internet PNQI 43 46 53 57 57 57 55 53 52 49 45 42 43SPDR S&P 500 SPY 51 48 44 46 46 49 50 52 51 51 48 48 44FrTrust Global Auto CARZ 54 53 51 50 48 45 45 44 45 45 44 43 45PShrs Dyn Media PBS 57 59 56 52 52 52 51 50 49 48 46 45 46iShares US Home Constr ITB 66 64 64 65 65 66 68 65 64 63 60 58 47SPDR Cons Disc XLY 56 58 59 56 55 55 55 56 54 53 53 51 48iShares US Cons Service IYC 55 55 55 53 53 54 52 54 55 55 54 52 49


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ETF SECTOR MOMENTUM RANKINGSName Symbol 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3

US Brent Oil BNO 59 55 47 40 37 37 40 46 46 46 47 50 49PShrs Water PHO 46 44 43 48 50 53 52 54 55 55 57 54 51iShares US Telecom IYZ 61 60 51 45 34 32 33 30 31 37 43 46 52SPDR Oil & Gas Explor XOP 14 13 14 14 14 14 14 16 20 25 31 41 53iShares US Med Devices IHI 63 67 68 71 72 72 71 70 67 66 64 60 54Global X Social Media SOCL 31 42 54 62 62 64 63 63 61 59 58 56 54iShares US Oil & Gas Exp IEO 20 19 18 17 17 22 23 26 27 32 40 49 56iShares NA Natural Res IGE 29 29 30 29 28 30 32 33 38 43 48 53 57PShrs DB Oil DBO 59 57 49 43 40 43 47 49 50 52 54 57 58SPDR Energy XLE 27 27 26 26 26 27 28 30 36 44 52 55 58FrTrust Biotech FBT 64 68 70 72 73 74 75 78 78 74 71 69 60iPath DJ Livestock COW 96 93 86 84 77 69 66 64 63 62 63 62 61US Oil USO 65 63 61 58 54 56 58 57 58 60 61 61 62iShares US Energy IYE 32 30 28 27 27 28 31 34 44 50 54 59 63iShares US Cons Goods IYK 71 70 70 69 71 73 73 71 70 68 68 67 64iShares GSCI Commodity GSG 62 62 62 61 59 60 60 58 60 61 62 63 65SPDR Homebuilders XHB 68 65 66 66 67 68 69 69 67 67 69 68 66VanEck Gaming BJK 36 39 46 51 55 58 61 62 62 64 65 66 67iShares US Healthcare IYH 77 75 74 74 75 75 74 77 76 74 73 70 68iShares US Utilities IDU 75 71 69 68 68 70 70 72 71 70 72 71 69iShares NASDAQ Biotech IBB 70 73 75 79 79 79 79 85 84 80 77 77 70SPDR Utilities XLU 78 73 72 69 70 71 72 73 73 72 74 74 71SPDR Healthcare XLV 80 80 76 76 78 77 78 81 79 79 78 76 72SPDR Cons Staples XLP 79 76 73 73 74 78 77 76 77 76 76 75 73VanEck Jr Gold Miners GDXJ 89 95 95 95 95 95 94 92 89 83 67 64 74FrTrust Global Wind FAN 67 72 77 79 81 81 80 75 74 71 70 71 75VanEck Nuclear Energy NLR 73 69 67 67 66 67 67 67 69 69 75 78 76PShrs Clean Energy PBW 84 83 82 83 85 84 85 83 85 86 81 80 77iShares US Real Estate IYR 81 81 81 75 76 76 76 74 75 77 79 79 78Teucrium Soybean SOYB 58 61 63 63 64 65 65 65 65 65 66 71 78FrTrust Natural Gas FCG 38 34 35 36 36 41 47 48 53 58 59 65 80iShares C & S Realty ICF 86 84 84 86 83 83 81 79 83 85 84 83 81iShares US Preferred PFF 75 79 77 77 79 80 81 82 80 81 80 81 81PShrs Fin Preferred PGF 72 77 79 78 82 81 83 83 82 82 82 82 83ETFS Platinum PPLT 92 92 92 93 92 88 88 88 88 90 88 88 84Teucrium Corn CORN 90 86 86 87 87 87 87 87 87 87 87 87 85iShares Silver Trust SLV 83 85 88 88 88 89 89 89 90 91 92 90 86PShrs DB Agriculture DBA 82 82 83 85 86 85 84 80 80 84 85 86 87SPDR Retail XRT 52 51 50 54 58 63 64 68 72 78 83 85 87Glb X Silver Miners SIL 85 90 94 94 94 94 95 93 91 89 86 84 89iShares Agg Bond AGG 74 78 80 81 84 86 86 86 86 88 90 91 90VanEck Gold Miners GDX 95 96 96 96 96 96 96 96 94 92 89 89 91iShares Comex Gold IAU 87 88 89 89 89 90 90 90 92 93 93 92 92SPDR Gold GLD 88 89 90 90 90 91 91 91 93 94 94 93 93SPDR Pharmaceuticals XPH 93 94 93 92 91 92 93 95 96 96 95 94 94Guggenheim Solar Energy TAN 97 97 97 97 97 97 97 97 97 97 97 97 95iShares 20+ Yr Tres Bond TLT 91 91 91 91 93 93 92 94 95 95 96 96 96US Natural Gas UNG 50 45 41 34 41 51 57 60 66 73 91 95 97



ETF SECTOR PERFORMANCE RETURNSName Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year

ETFS Palladium PALL 74.22 0.37 -0.76 -1.25 1.39 0.62 14.68 44.37 13.82 42.90ETFS Platinum PPLT 95.46 -2.84 -0.87 -1.48 -0.49 9.17 -5.21 3.65 10.47 4.34FrTrust Biotech FBT 106.18 6.22 3.86 7.76 9.95 12.28 10.81 7.84 16.84 20.91FrTrust DJ Internet FDN 86.80 -0.57 -0.52 0.56 1.69 8.61 9.78 17.38 8.73 28.02FrTrust Global Auto CARZ 36.36 0.69 0.41 1.71 2.13 9.54 8.99 14.27 5.64 15.89FrTrust Global Wind FAN 12.33 0.82 -1.12 -0.32 0.49 6.32 -1.92 5.66 5.38 21.36FrTrust Natural Gas FCG 24.43 0.16 -4.64 -6.90 -5.42 -9.54 -4.00 0.09 -6.65 24.10Glb X Copper Miners COPX 23.90 -0.54 -3.36 -7.18 -4.93 13.08 51.68 67.18 19.50 70.99Glb X Lithium LIT 26.39 0.96 -0.19 -1.38 -1.31 9.54 10.03 10.39 8.24 36.22Glb X Silver Miners SIL 35.19 -8.07 -10.23 -12.64 -8.81 5.01 -15.57 9.10 9.59 50.01Glb X Uranium URA 15.98 -4.48 -11.27 -10.43 -3.79 37.78 24.93 21.22 24.16 28.87Global X Social Media SOCL 24.29 -0.25 -0.82 2.32 2.79 5.98 2.50 22.22 12.35 36.86Guggenheim Shipping SEA 12.48 1.71 0.40 1.38 1.46 15.87 12.53 10.05 9.19 14.95Guggenheim Solar Energy TAN 18.25 -3.74 -1.51 2.59 5.07 9.27 -8.39 -12.85 10.14 -19.68Guggenheim Timber CUT 26.47 0.95 0.38 1.22 1.85 8.48 9.22 14.30 6.86 25.92iPath DJ Livestock COW 21.93 -0.14 -1.39 -1.04 -0.14 8.51 3.15 -9.64 -1.92 -10.31iShares 20+ Yr Tres Bond TLT 119.35 -1.99 -0.62 -0.98 0.40 0.13 -13.45 -7.50 0.59 -5.54iShares Agg Bond AGG 107.92 -0.79 -0.20 -0.30 0.20 0.53 -2.80 -0.79 0.28 0.84iShares C & S Realty ICF 101.56 -1.38 0.76 0.81 3.78 6.92 -3.17 2.22 1.93 7.99iShares Comex Gold IAU 11.88 -1.74 -0.08 -0.08 2.06 5.23 -5.71 1.89 7.22 -2.38iShares DJ Transports IYT 171.19 0.77 0.01 1.15 3.74 5.97 21.45 23.74 5.13 26.65iShares GSCI Commodity GSG 15.29 -0.84 -1.04 -2.43 -2.11 2.48 7.37 -2.11 -2.43 14.53iShares NA Natural Res IGE 34.76 0.58 -1.42 -3.15 -2.14 -2.68 5.17 9.02 -3.31 23.53iShares NA Networking IGN 45.36 -2.72 -3.94 -0.87 2.81 5.34 16.44 25.07 3.99 28.88iShares NA Software IGV 123.92 -0.42 0.44 2.01 6.41 10.86 10.15 16.16 13.84 29.89iShares NA Technology IGM 136.46 0.21 0.90 2.52 4.61 11.26 13.54 21.68 10.22 30.36iShares NASDAQ Biotech IBB 302.49 4.34 2.77 6.37 7.87 10.41 7.76 5.80 13.98 14.69iShares Russell2000 IWM 138.65 0.00 -0.33 0.51 2.59 5.78 13.29 20.32 2.82 31.42iShares Semiconductor SOXX 132.07 0.13 -0.15 1.23 1.68 10.89 22.07 39.65 7.62 53.06iShares Silver Trust SLV 16.98 -2.41 -0.47 -0.24 2.23 8.43 -4.18 11.56 12.38 17.10iShares US Aero & Defense ITA 151.85 0.88 1.00 2.86 6.64 6.34 17.37 22.47 8.06 34.83iShares US Basic Materials IYM 89.05 0.33 0.28 1.18 1.95 6.63 12.28 16.52 7.08 29.84iShares US Broker Dealers IAI 53.11 0.59 -0.45 1.80 2.59 9.79 28.06 35.98 7.34 45.86iShares US Cons Goods IYK 119.45 0.66 1.53 2.94 5.37 10.84 4.03 7.75 7.88 11.59iShares US Cons Service IYC 159.65 -0.42 -0.02 1.24 2.79 5.97 9.00 10.23 5.71 14.06iShares US Energy IYE 39.49 1.41 -0.10 -1.99 -0.90 -3.39 5.07 7.32 -4.94 19.07iShares US Finance IYF 107.97 1.16 1.60 3.87 6.10 10.53 18.34 22.59 6.42 32.43iShares US Financial Svcs IYG 114.44 1.70 1.46 4.59 6.73 12.08 27.78 31.60 7.70 43.17iShares US Healthcare IYH 158.84 1.48 3.05 5.52 6.86 10.94 5.98 6.57 10.21 15.17iShares US Home Constr ITB 31.20 3.76 5.58 5.23 8.00 14.12 7.65 13.34 13.54 21.93iShares US Industrial IYJ 127.89 0.65 0.90 2.36 4.38 6.58 12.41 17.65 6.06 26.21iShares US Insurance IAK 62.24 1.04 1.83 2.93 4.96 8.24 17.71 20.27 4.90 30.56iShares US Med Devices IHI 151.20 0.67 2.17 4.67 6.02 15.31 5.89 14.09 13.56 28.73iShares US Oil & Gas Exp IEO 61.53 0.56 -2.18 -4.66 -2.80 -6.15 5.46 8.18 -5.97 26.22iShares US Oil Equip IEZ 43.86 0.11 -1.22 -3.52 -4.03 -0.30 17.87 19.97 -3.50 24.46iShares US Preferred PFF 38.37 -0.46 0.16 0.26 1.74 4.47 -1.06 1.38 4.15 6.21iShares US Real Estate IYR 79.64 -0.83 1.09 1.41 4.61 7.89 -1.33 4.39 3.51 12.00iShares US Reg Banks IAT 48.02 1.01 0.84 3.67 5.05 11.99 35.31 38.40 5.82 52.19iShares US Technology IYW 133.20 0.32 0.84 2.78 4.74 12.29 14.89 24.69 10.77 30.79

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ETF SECTOR PERFORMANCE RETURNSName Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year

iShares US Telecom IYZ 33.07 -2.30 -3.42 -3.50 -4.09 4.17 4.06 6.56 -4.14 11.88iShares US Utilities IDU 129.00 0.04 3.86 4.28 6.43 10.88 6.82 7.02 5.89 14.54MV Ag Business MOO 53.85 0.45 -0.88 -1.16 0.26 8.03 7.99 11.99 4.89 19.48MV Coal KOL 13.28 0.00 -0.08 0.23 0.38 2.29 27.33 63.86 8.32 85.62MV Gaming BJK 35.58 1.48 2.09 1.69 1.83 -1.10 7.95 9.30 5.14 12.94MV Gold Miners GDX 22.20 -8.00 -10.45 -12.22 -6.92 6.88 -12.66 -2.22 6.12 12.33MV Jr Gold Miners GDXJ 35.53 -11.37 -13.87 -15.02 -6.67 9.03 -10.40 10.71 12.61 36.71MV Nuclear Energy NLR 48.54 -0.39 3.19 3.17 4.12 7.14 4.17 5.37 2.30 8.18MV Rare Earth REMX 19.12 -3.97 -4.21 -0.26 -0.31 11.64 15.26 17.05 12.40 34.63MV Steel SLX 42.94 0.89 -3.03 -0.62 3.15 9.36 45.72 71.13 13.63 93.15PShrs Clean Energy PBW 3.94 -1.99 -0.51 2.87 4.51 7.88 3.71 3.08 7.07 -2.36PShrs DB Agriculture DBA 20.32 0.15 -1.31 -1.22 -1.36 1.91 0.44 -6.49 1.75 0.94PShrs DB Base Metals DBB 16.32 -0.24 -0.31 -1.98 0.37 4.75 20.53 29.42 9.38 28.91PShrs DB Oil DBO 9.20 -0.33 -0.43 -2.65 -2.95 2.22 9.13 1.43 -4.96 23.99PShrs Dyn Leisure PEJ 40.97 -0.41 -0.27 -0.46 1.61 3.49 17.23 16.85 2.37 15.91PShrs Dyn Media PBS 27.50 -1.01 -0.58 -0.04 -0.65 5.77 9.53 8.41 4.92 15.69PShrs Fin Preferred PGF 18.59 -0.21 0.32 0.50 1.65 4.67 -1.44 1.95 4.45 6.44PShrs NASDAQ Internet PNQI 92.56 0.35 0.08 1.05 2.74 9.76 9.37 17.43 12.00 25.56PShrs Private Equity PSP 11.71 0.26 -0.85 -0.34 0.86 8.25 10.81 14.57 5.40 24.07PShrs Water PHO 26.08 0.15 1.20 1.32 3.08 5.44 7.46 11.89 6.06 24.42SPDR Basic Materials XLB 52.66 0.44 0.69 1.07 0.84 6.14 9.72 13.30 5.96 25.08SPDR Biotech XBI 71.35 6.11 2.74 6.89 9.84 13.88 18.83 19.43 20.54 38.34SPDR Cons Disc XLY 87.00 0.09 0.45 1.48 2.75 6.92 9.05 10.71 6.88 15.28SPDR Cons Staples XLP 55.14 -0.25 1.25 2.83 5.67 9.83 2.79 5.66 6.63 9.07SPDR DJIA DIA 209.91 0.95 1.96 3.82 5.97 10.32 15.45 19.87 6.67 27.00SPDR Energy XLE 71.99 1.41 0.03 -1.76 -0.51 -2.77 6.27 9.71 -4.42 22.24SPDR Financial XLF 24.97 2.25 2.04 5.00 6.98 11.43 26.32 30.78 7.40 41.19SPDR Gold GLD 117.51 -1.83 -0.14 -0.08 2.01 5.15 -5.83 1.59 7.21 -2.67SPDR Healthcare XLV 75.80 1.36 2.91 5.48 6.57 10.74 5.04 5.80 9.95 13.97SPDR Homebuilders XHB 36.75 2.57 3.81 4.37 6.52 8.80 2.06 7.42 8.57 15.15SPDR Industrial XLI 66.32 0.65 0.65 2.46 4.82 6.92 14.51 20.38 6.59 26.60SPDR Metals & Mining XME 31.93 -1.24 -6.72 -7.05 -3.62 2.89 24.99 45.85 5.00 72.40SPDR Oil & Gas Equip XES 21.25 -0.70 -2.39 -5.43 -5.60 0.33 21.47 20.30 -4.92 25.01SPDR Oil & Gas Explor XOP 37.86 -0.03 -3.71 -6.17 -4.83 -9.54 3.32 5.76 -8.59 37.07SPDR Pharmaceuticals XPH 42.25 0.00 0.19 3.58 7.62 7.92 -5.54 -4.94 8.08 1.87SPDR Retail XRT 42.72 -2.29 -2.51 -3.00 -0.14 -6.24 -3.30 0.49 -3.06 -2.91SPDR S&P 500 SPY 238.42 0.71 1.42 2.98 4.74 8.82 10.88 14.88 6.66 21.90SPDR S&P Bank KBE 45.70 1.17 0.84 3.53 5.06 11.53 34.98 37.68 5.13 52.14SPDR S&P Cap Mkt KCE 48.03 -0.12 -0.08 1.97 3.98 7.96 17.99 18.76 7.02 29.02SPDR S&P Insurance KIE 87.83 0.23 0.76 2.69 5.27 9.42 18.39 21.75 5.88 32.49SPDR S&P Reg Bank KRE 58.20 1.29 0.87 3.61 5.28 11.47 36.42 40.53 4.73 56.28SPDR Technology XLK 52.86 0.44 1.28 3.00 4.76 11.78 13.46 21.65 9.31 27.26SPDR Utilities XLU 51.52 -0.14 3.93 4.52 6.60 11.27 6.57 7.28 6.07 14.38Teucrium Corn CORN 19.76 2.12 1.07 -0.45 1.13 5.44 11.58 -12.37 5.61 -4.08Teucrium Soybean SOYB 19.50 1.35 -0.66 -2.55 -0.76 -1.22 7.38 -4.22 2.09 13.50US Brent Oil BNO 15.19 -0.91 -0.46 -2.06 -1.87 5.19 10.15 0.73 -3.13 31.63US Natural Gas UNG 6.84 1.18 -4.47 -10.00 -13.42 -18.86 -19.05 -5.66 -26.77 18.13US Oil USO 11.29 -1.48 -0.88 -1.83 -1.66 3.29 8.98 -4.81 -3.67 22.05



ETF SECTOR PORTFOLIO HOLDINGSRANK FUND SYMBOL SHARES PRICE Value DATE PURCHASED PERCENT

ETF SECTOR RETURNSPERIOD PORTFOLIO BENCHMARK S&P 500 Nasdaq Dow Russell 2000

YTD 4.86 6.44 9.06 6.29 2.721 Week 0.07 0.67 0.44 0.88 -0.034 Week 0.59 3.73 3.60 4.65 1.1813 Week 4.93 8.72 11.70 9.57 6.0726 Week 10.73 9.32 11.83 13.59 11.361 Year 33.65 19.16 24.46 23.51 28.85Inception* 97.83 89.50 125.35 71.93 88.16

THIS WEEK’S ETF SECTORTRADE RECOMMENDATIONSAt the close of trading on March 6, 2017 we will make the following trades.Proceeds from multiple fund sales should be split evenly between new pur-chases.

We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFsfrom the same sector. There is no minimum holding period for ETFs.

2 Glb X Uranium URA 837.07 15.98 $13,376.41 01/30/17 6.76%3 VanEck Steel SLX 619.82 42.94 $26,615.06 05/09/16 13.45%4 SPDR S&P Reg Bank KRE 397.97 58.20 $23,162.14 11/07/16 11.71%6 SPDR S&P Bank KBE 392.41 45.70 $17,932.94 11/14/16 9.06%7 SPDR Metals & Mining XME 622.59 31.93 $19,879.30 06/06/16 10.05%8 iShares US Broker Dealers IAI 333.68 53.11 $17,721.66 11/14/16 8.96%9 iShares US Financial Svcs IYG 140.07 114.44 $16,029.42 11/28/16 8.10%10 iShares Semiconductor SOXX 169.30 132.07 $22,358.90 08/08/16 11.30%12 VanEck Coal KOL 1603.08 13.28 $21,288.84 07/05/16 10.76%13 VanEck Rare Earth REMX 1017.86 19.12 $19,461.47 02/27/17 9.84% $197,826.14 100.00%

Last Week’s Sell TransactionsDate Fund Symbol Shares Buy Value Sell Proceeds Profit2/27/2017 SPDR Oil & Gas Equip XES 914.17 22.62 $20,678.56 21.88 $20,021.29 -$657.27


No Trades

No Trades

Sell

Buy

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ETF INTERNATIONAL MOMENTUM RANKINGSName Symbol 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3

VanEck Russia Sm Cap RSXJ 1 1 1 1 1 1 1 1 1 1 1 1 1VanEck Brazil Small Cap BRF 5 8 12 12 10 8 5 4 4 3 2 2 2iShares Brazil EWZ 2 4 5 6 6 4 4 5 5 5 4 3 3iShares Poland EPOL 69 64 56 49 41 31 28 19 10 7 7 7 4Glb X Argentina ARGT 8 11 14 18 16 12 9 6 6 6 6 5 5VanEck Russia RSX 4 3 3 3 2 2 2 2 2 2 3 4 6WTree Japan Hedged DXJ 3 2 2 2 3 3 3 3 3 4 5 6 7iShares S&P Latin Am 40 ILF 7 12 20 23 24 22 19 16 13 11 8 8 8iShares Austria EWO 11 6 6 7 8 9 10 8 8 9 9 9 9WTree Dreyfus Brazil Real BZF 16 18 17 12 13 13 14 15 14 12 12 11 10WTree Europe Hedged HEDJ 23 15 9 5 5 5 6 8 9 14 14 14 11WTree Japan Sm Cap Div DFJ 6 5 4 4 4 6 8 10 10 13 13 13 12iShares Australia EWA 20 19 21 21 20 16 16 17 17 16 15 15 13Glb X Norway 30 NORW 12 8 7 8 7 7 7 7 7 8 10 12 14WTree Emg Markts HiYld DEM 14 14 15 17 18 18 17 18 18 16 17 16 15iShares All Peru EPU 9 10 10 10 11 13 15 14 12 10 11 10 16iShares Taiwan EWT 10 7 10 16 19 21 21 21 21 20 18 18 17VanEck India Sm Cap SCIF 38 43 60 68 69 62 61 57 53 37 30 24 18iShares Canada EWC 14 13 8 9 9 10 11 11 15 15 15 17 19WTree Emg Mkt Sm Cap DivDGS 35 33 34 36 40 43 44 42 40 36 27 21 20iShares Global 100 IOO 28 22 16 14 14 15 17 20 20 22 20 20 21VanEck Africa AFK 50 55 58 52 49 38 32 25 22 18 19 19 22iShares Pacific ex-Japan EPP 25 27 27 28 30 29 29 30 26 27 24 22 23SPDR Emg Mkts Sm Cap EWX 33 32 32 37 45 47 49 47 44 41 32 30 24iShares Sweden EWD 56 51 45 42 39 42 41 38 30 26 23 23 24iShares Chile ECH 17 16 24 25 29 34 36 36 37 32 27 25 26iShares ACWI Index ACWI 31 26 22 22 23 23 23 22 25 24 25 28 27iShares South Korea EWY 40 39 42 41 46 45 42 41 34 28 29 27 27iShares Germany EWG 44 40 30 30 28 28 27 23 23 23 25 29 29iShares Thailand Invest THD 30 28 28 26 26 25 25 23 23 21 20 25 30iShares Emerging Markets EEM 36 34 36 39 42 43 44 42 42 40 33 31 31WTree India EPI 43 47 55 57 56 60 60 61 58 52 49 40 32WTree Euro Sm Cap Div DFE 60 58 51 47 43 41 39 37 35 30 31 32 33iShares Singapore EWS 54 49 53 55 54 51 50 51 45 43 43 36 34iShares Japan Sm Cap SCJ 19 23 25 24 25 26 29 33 36 38 36 34 35iShares MSCI Italy EWI 73 57 35 27 22 17 13 13 16 19 22 33 36China Large Cap FXI 13 20 26 31 34 39 43 45 49 48 44 35 37iShares DJ Euro 50 FEZ 50 44 39 32 31 30 29 28 28 33 36 38 38Gugg China Sm Cap HAO 24 29 37 45 51 52 54 54 56 55 52 48 39Wtree Intl Hedged IHDG 50 49 43 37 38 39 40 44 47 47 47 49 40iShares ACWI ex-US ACWX 39 36 31 33 33 36 37 39 40 42 42 39 40iShares Spain EWP 63 54 45 40 36 34 35 35 32 35 36 42 42iShares Japan EWJ 18 17 17 19 21 24 24 26 29 31 35 37 43iShares EMU Index EZU 47 45 41 34 32 32 33 32 33 39 41 44 44iShares South Africa EZA 58 62 64 62 57 53 52 48 48 51 46 42 45iShares Netherlands EWN 53 53 49 48 47 49 47 48 50 50 48 51 46SPDR MidEast & Africa GAF 65 69 65 66 62 56 53 52 51 52 50 50 47



ETF INTERNATIONAL MOMENTUM RANKINGSName Symbol 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3

iShares France EWQ 42 37 29 29 27 27 26 27 27 33 39 44 48iShares MSCI EAFE EFA 45 42 38 35 35 37 37 39 42 44 45 47 49Glb X Greece 20 GREK 32 25 22 20 11 11 12 11 19 24 40 46 50PwrShrs Golden Dragon PGJ 34 37 52 59 64 62 64 64 65 63 59 54 51iShares Asia ex Japan AAXJ 37 41 48 54 55 56 59 57 57 56 53 52 52iShares S&P Europe 350 IEV 64 60 54 51 48 47 46 46 46 49 51 53 53iShares Israel Cap Invest EIS 70 70 65 67 64 62 63 63 62 65 61 56 54iShares India 50 INDY 57 67 71 73 73 72 72 71 68 64 63 57 55Gugg China RE TAO 29 34 44 56 58 61 62 62 64 62 63 58 56Glb X Colombia GXG 61 56 50 46 37 33 34 33 31 28 34 41 57iShares MSCI U Kingdom EWU 67 62 59 53 52 50 51 53 54 54 55 55 58iShares Switzerland EWL 73 72 68 64 60 58 55 55 55 58 57 58 59iShares Ireland EIRL 75 73 69 64 60 59 57 56 59 59 60 61 60iShares Hong Kong EWH 21 30 39 50 53 55 57 59 60 60 62 62 61PShares USD Bullish UUP 22 21 13 11 15 19 21 31 39 45 54 60 62iShares Finland EFNL 49 51 47 44 44 46 48 50 52 56 58 63 63WTree USD Bullish USDU 27 23 19 15 17 20 20 29 38 45 55 63 64db xTrackers China ASHR 26 31 32 43 50 53 55 60 61 66 66 66 65iShares New Zealand ENZL 48 61 65 70 71 70 70 65 63 61 65 65 65CurrShrs Aust Dollar FXA 46 48 57 59 66 69 66 66 66 67 67 67 67iShares Belguim EWK 68 71 73 69 68 68 65 66 67 68 68 68 68WTree Emg Currency CEW 55 59 61 58 59 65 67 69 70 69 69 69 69iShares MSCI Emg MinVol EEMV 59 65 71 72 70 71 71 72 72 72 72 70 70iShares MSCI EAFE MinVol EFAV 80 78 78 77 77 77 75 75 75 73 73 73 71VanEck Indonesia IDX 41 46 62 61 62 66 69 70 71 71 71 72 72CurrShrs Can Dollar FXC 66 65 63 63 67 67 68 68 69 70 70 71 73iShares S&P World PropertyWPS 78 76 76 76 76 76 77 77 77 76 76 74 74iShares Denmark EDEN 86 86 85 85 83 80 79 79 78 78 77 75 75Wtree Asia Local Debt ALD 61 68 70 71 72 72 73 73 73 74 74 76 76WTree China Yuan CYB 71 74 74 74 74 74 74 74 74 75 75 77 77CurrShrs SwissFranc FXF 72 75 75 75 75 75 76 76 76 77 78 78 78VanEck Vietnam VNM 81 82 84 84 84 82 82 81 81 81 79 79 79iShares Maylasia EWM 82 81 82 83 85 83 83 82 82 82 82 81 80CurrShrs Swed Krona FXS 83 83 83 82 80 79 80 80 80 79 80 80 81Euro Currency Trust FXE 77 77 77 78 78 78 78 78 79 79 81 82 82CurrShrs Brit Pound FXB 85 84 81 81 81 84 84 84 83 83 83 83 83iShares Mexico EWW 84 85 86 86 86 87 87 87 87 87 87 87 84Vanguard Intl Bond BWX 79 80 79 79 79 81 81 83 84 84 84 84 85iShares Turkey TUR 88 88 88 88 88 88 88 88 88 88 88 88 86iShares Philippines EPHE 87 87 87 87 87 86 86 86 85 85 85 85 87CurrShrs Japanese Yen FXY 76 79 80 80 82 85 85 85 86 86 86 86 88Glb X Nigeria NGE 89 89 89 89 89 89 89 89 89 89 89 89 89VanEck Egypt EGPT 90 90 90 90 90 90 90 90 90 90 90 90 90

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ETF INTERNATIONAL PERFORMANCE RETURNSName Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year

CurrShrs Aust Dollar FXA 75.93 -1.11 -0.99 -1.05 0.18 3.09 1.31 5.65 5.43 4.00CurrShrs Brit Pound FXB 119.93 -1.28 -0.93 -1.52 -2.87 -1.79 -6.53 -15.03 -0.27 -13.62CurrShrs Can Dollar FXC 73.83 -2.03 -2.12 -2.22 -2.52 0.35 -2.16 -2.34 0.35 -0.23CurrShrs Japanese Yen FXY 84.61 -1.60 -0.88 -0.52 -0.67 0.42 -9.36 -4.86 2.53 -0.67CurrShrs Swed Krona FXS 107.41 0.47 -0.77 -0.68 -2.62 2.45 -5.48 -8.77 1.01 -6.60CurrShrs SwissFranc FXF 94.39 -0.19 -0.67 -0.63 -1.79 0.46 -3.09 -2.64 0.70 -2.92db xTrackers China ASHR 24.89 -1.78 -0.16 -0.04 -0.08 -3.13 -0.32 4.37 6.14 8.11Euro Currency Trust FXE 102.99 0.54 0.06 -0.22 -1.45 0.01 -5.21 -5.36 0.71 -3.92Glb X Argentina ARGT 26.69 0.83 0.07 -0.67 3.21 15.92 19.17 27.26 15.74 41.74Glb X Colombia GXG 8.99 -3.44 -4.46 -6.55 -5.27 5.12 -1.46 7.85 -1.43 8.11Glb X Greece 20 GREK 7.85 1.82 1.68 2.88 2.75 0.93 8.90 -4.94 0.77 12.42Glb X Nigeria NGE 3.84 -0.26 -1.03 -3.03 -8.13 -8.69 -12.93 -43.21 -9.86 -34.52Glb X Norway 30 NORW 11.45 0.09 -0.35 -1.04 -3.46 7.16 12.37 10.89 3.71 22.91Gugg China RE TAO 21.91 -0.81 1.44 1.29 4.13 5.71 1.35 18.41 12.07 23.11Gugg China Sm Cap HAO 24.62 0.12 0.98 0.70 4.10 5.09 4.96 14.85 10.45 17.28iShares ACWI ex-US ACWX 42.70 0.38 0.26 0.90 1.72 8.00 5.49 9.60 6.03 14.82iShares ACWI Index ACWI 62.94 0.58 0.83 1.96 3.32 8.46 8.50 12.56 6.37 18.71iShares All Peru EPU 33.89 -2.98 -4.94 -6.87 -3.72 5.68 6.27 16.52 3.32 46.52iShares Asia ex Japan AAXJ 60.35 -1.10 -0.40 0.22 2.13 6.96 4.04 14.57 9.87 18.48iShares Australia EWA 21.98 -0.45 -1.17 0.59 2.95 10.41 11.61 18.78 8.65 22.27iShares Austria EWO 17.84 2.00 -0.39 1.08 0.79 11.26 14.68 18.59 7.92 23.91iShares Belguim EWK 18.17 1.91 0.83 1.85 1.40 7.06 0.93 -0.23 3.77 9.53iShares Brazil EWZ 38.58 0.57 -1.68 0.81 3.82 16.66 16.56 48.86 15.72 65.79iShares Canada EWC 26.84 -1.40 -3.38 -2.72 -0.96 4.22 7.10 11.02 2.64 22.03iShares Chile ECH 40.75 0.39 0.02 -0.73 4.62 8.80 11.63 17.77 8.90 18.75iShares China Large Cap FXI 37.87 -1.74 -1.53 -0.37 3.27 2.76 4.26 15.36 9.10 21.30iShares Denmark EDEN 53.89 0.48 -0.65 0.39 -1.08 10.30 -4.32 -7.05 5.69 0.87iShares DJ Euro 50 FEZ 35.14 3.11 2.60 3.66 2.99 12.34 7.75 7.26 5.02 12.48iShares Emerging Markets EEM 38.19 -0.75 -0.52 -0.08 2.22 8.81 5.74 16.66 9.08 20.98iShares EMU Index EZU 36.24 2.75 1.83 2.87 2.37 11.28 6.63 6.75 4.74 12.60iShares Finland EFNL 34.18 2.34 1.42 2.67 2.46 9.19 2.60 8.47 3.89 13.87iShares France EWQ 25.62 3.06 2.40 2.77 2.23 9.65 7.72 6.61 3.85 12.23iShares Germany EWG 27.99 1.86 1.63 2.49 1.41 12.77 6.83 10.32 5.70 17.26iShares Global 100 IOO 81.28 1.21 1.60 2.98 4.21 9.80 9.84 14.27 5.94 19.72iShares Hong Kong EWH 21.69 0.65 1.07 2.02 2.84 3.56 4.25 12.73 11.34 18.91iShares India 50 INDY 30.54 0.03 1.63 0.93 3.14 10.93 1.67 8.89 11.70 20.42iShares Ireland EIRL 39.71 1.85 0.89 2.16 2.32 9.69 2.61 -0.85 5.81 4.80iShares Israel Cap Invest EIS 50.53 0.58 0.74 4.66 4.57 9.15 3.63 6.00 8.90 11.01iShares Japan EWJ 51.37 -0.29 0.35 -0.02 1.04 4.17 5.80 12.11 5.14 14.86iShares Japan Sm Cap SCJ 65.61 -0.41 0.47 1.48 2.18 6.79 9.73 11.55 6.56 20.83iShares Maylasia EWM 29.76 0.57 0.40 0.57 2.06 6.17 -4.96 -0.19 6.02 -3.96iShares Mexico EWW 47.96 2.74 4.90 2.87 6.79 9.20 -4.54 -1.24 9.07 -3.34iShares MSCI EAFE EFA 60.93 0.89 0.71 1.31 1.77 8.40 5.50 7.71 5.54 12.29iShares MSCI EAFE MinVol EFAV 64.38 0.14 0.74 0.72 1.61 6.22 -1.00 -0.30 5.16 3.27iShares MSCI Emg MinVol EEMV 51.95 -0.15 0.19 0.23 2.43 4.99 -1.02 5.96 6.22 8.96iShares MSCI Italy EWI 24.53 5.73 3.20 3.63 3.37 13.83 9.64 5.63 1.32 5.90iShares MSCI U Kingdom EWU 32.03 0.16 0.25 0.63 1.36 8.03 2.96 3.36 4.37 7.57



ETF INTERNATIONAL PERFORMANCE RETURNSName Symbol Price 1 Week 2 Week 3 Week 1 Month 3 Month 6 Month 9 Month YTD 1 Year

iShares Netherlands EWN 26.02 2.48 1.05 4.00 5.05 12.01 6.11 6.61 7.74 13.78iShares New Zealand ENZL 42.10 -0.75 -1.20 -1.91 -2.16 3.12 -6.97 4.53 5.97 17.19iShares Pacific ex-Japan EPP 43.45 -0.23 -0.48 0.77 2.52 8.26 9.11 16.13 9.81 20.46iShares Philippines EPHE 33.73 -0.15 0.24 -1.26 -1.58 4.92 -11.98 -10.66 4.04 -0.97iShares Poland EPOL 21.63 2.08 2.90 2.66 5.98 28.64 22.56 29.48 19.37 21.71iShares S&P Europe 350 IEV 40.76 1.65 1.14 2.10 1.98 10.46 4.93 4.97 5.02 10.03iShares S&P Latin Am 40 ILF 31.79 0.54 -0.13 1.18 4.26 14.30 14.06 34.36 15.26 39.52iShares S&P World Property WPS 35.14 -0.93 0.00 0.09 1.47 4.19 -3.34 -0.34 4.55 5.78iShares Singapore EWS 22.28 -0.09 1.27 1.00 2.11 9.28 8.61 10.84 11.79 12.46iShares South Africa EZA 56.37 -0.74 -0.02 1.00 2.88 12.07 8.46 13.41 7.66 20.49iShares South Korea EWY 57.73 -2.27 -0.41 -0.67 -0.29 9.70 3.68 15.69 8.47 19.38iShares Spain EWP 28.12 4.07 2.67 3.84 2.82 14.60 8.85 5.45 6.07 10.85iShares Sweden EWD 30.72 0.82 -0.42 0.69 0.13 11.77 7.58 8.06 6.93 13.19iShares Switzerland EWL 31.47 1.61 1.35 2.08 2.37 11.07 4.34 5.03 6.82 10.03iShares Taiwan EWT 32.01 -1.78 -1.87 -0.84 1.49 6.59 9.00 21.44 8.99 22.90iShares Thailand Invest THD 75.66 0.44 -0.49 -1.01 0.15 6.44 1.23 13.93 4.95 17.19iShares Turkey TUR 35.61 -0.95 -1.25 1.83 5.42 12.09 -6.07 -7.10 9.67 -7.73MV Africa AFK 20.74 -1.75 -4.16 -3.31 -2.90 9.68 5.29 6.34 4.80 18.59MV Brazil Small Cap BRF 20.05 0.15 -0.35 3.14 8.03 30.67 21.72 64.65 26.18 86.14MV Egypt EGPT 28.28 -3.12 -1.94 2.43 8.48 9.79 -26.39 -24.60 7.12 -15.40MV India Sm Cap SCIF 48.44 1.49 2.71 -0.62 5.14 15.86 8.58 23.40 18.81 37.04MV Indonesia IDX 21.83 -0.55 -0.09 -1.84 0.74 5.52 -3.22 10.93 2.83 6.03MV Russia RSX 20.56 -0.82 -3.11 -5.38 -4.81 6.56 15.32 24.60 -3.11 36.84MV Russia Sm Cap RSXJ 39.82 -1.51 -4.12 -3.19 -2.35 13.02 38.32 63.98 4.54 111.80MV Vietnam VNM 13.42 -2.12 -3.45 -2.19 -2.19 2.80 -9.39 -5.08 2.91 -4.88PShares USD Bullish UUP 26.17 0.15 0.35 0.54 1.63 -0.30 5.44 5.82 -1.10 3.36PwrShrs Golden Dragon PGJ 32.77 0.18 0.15 1.30 5.61 6.44 5.46 13.79 14.62 17.19SPDR Emg Mkts Sm Cap EWX 44.17 -0.09 0.00 0.41 3.78 9.54 6.84 18.53 11.20 21.00SPDR MidEast & Africa GAF 60.00 -0.61 0.18 3.97 3.41 10.28 3.84 16.12 7.91 19.61Vanguard Intl Bond BWX 26.13 -1.10 -0.19 -0.42 -0.72 0.31 -8.52 -5.84 0.58 -2.74Wtree Asia Local Debt ALD 44.01 -0.23 -0.09 0.28 1.18 2.76 -2.41 1.39 3.59 2.82WTree China Yuan CYB 24.05 -0.62 -0.04 -0.29 0.50 1.22 -1.60 -2.32 3.40 -2.47WTree Dreyfus Brazil Real BZF 18.33 -0.27 -0.16 0.49 0.88 11.50 8.91 24.27 7.57 37.20WTree Emg Currency CEW 18.10 -0.22 0.33 0.33 1.17 4.44 1.00 4.81 3.49 6.16WTree Emg Markts HiYld DEM 40.10 -0.64 -0.79 -0.17 2.30 9.18 9.60 22.51 7.39 25.96WTree Emg Mkt Sm Cap Div DGS 43.66 -0.18 0.48 1.46 4.55 12.14 7.62 21.94 11.63 25.75WTree Euro Sm Cap Div DFE 57.58 1.84 -0.28 0.42 0.56 11.29 6.88 2.45 5.42 11.26WTree Europe Hedged HEDJ 60.82 2.15 2.32 4.36 5.46 13.50 13.94 16.34 5.96 21.22WTree India EPI 22.80 0.71 2.89 2.20 5.60 12.68 5.54 15.12 12.87 25.54Wtree Intl Hedged IHDG 28.04 1.15 1.37 2.90 4.63 9.15 7.08 8.00 6.41 11.93WTree Japan Hedged DXJ 51.62 1.41 1.20 1.04 2.83 5.94 20.80 23.42 4.20 19.78WTree Japan Sm Cap Div DFJ 66.58 -0.42 0.26 1.52 2.65 8.45 14.46 19.25 7.53 27.64WTree USD Bullish USDU 27.55 0.44 0.07 0.25 0.47 -0.93 4.55 3.65 -1.50 1.89

PHONE: (888) 252-5372



YTD 7.18 4.35 6.44 9.06 6.291 Week 0.32 0.38 0.67 0.44 0.884 Week 0.60 0.88 3.73 3.60 4.6513 Week 9.33 7.77 8.72 11.70 9.5726 Week 2.12 2.76 9.32 11.83 13.591 Year 13.77 7.88 19.16 24.46 23.51Inception* 35.22 24.40 89.50 125.35 71.93

INTERNATIONAL PORTFOLIO HOLDINGSRANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT

2 VanEck Brazil Small Cap BRF 704.32 20.05 $14,121.68 01/09/17 10.44%3 iShares Brazil EWZ 428.91 38.58 $16,547.34 04/18/16 12.24%4 iShares Poland EPOL 612.83 21.63 $13,255.46 02/06/17 9.80%5 Glb X Argentina ARGT 683.68 26.69 $18,247.39 01/23/17 13.49%6 VanEck Russia RSX 591.14 20.56 $12,153.92 11/21/16 8.99%7 WTree Japan Hedged DXJ 210.48 51.62 $10,864.78 11/28/16 8.04%9 iShares Austria EWO 697.44 17.84 $12,442.39 11/21/16 9.20%12 WTree Japan Sm Cap Div DFJ 195.50 66.58 $13,016.18 11/07/16 9.63%14 Glb X Norway 30 NORW 1140.31 11.45 $13,056.56 12/19/16 9.66%16 iShares All Peru EPU 339.65 33.89 $11,510.85 02/13/17 8.51% $135,216.56 100.00%

THIS WEEK’S INTERNATIONALTRADE RECOMMENDATIONSAt the close of trading on March 6, 2017 we will make the following trades.Proceeds from multiple fund sales should be split evenly between new pur-chases.We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFsfrom the same geographic region. There is no minimum holding period forETFs.

No trades last week



ETF INTERNATIONAL RETURNSPERIOD PORTFOLIO MSCI EAFE S&P 500 Nasdaq Dow

Norway (NORW) Peru (EPU)

Europe Hedged (HEDJ) Australia (EWA)

Sell

Buy

ETF BLENDED PORTFOLIOPERIOD PORTFOLIO S&P 500 Nasdaq RUSSELL 2000 MSCI EAFE


YTD 4.85 6.44 9.06 2.72 4.351 Week 0.07 0.67 0.44 -0.03 0.384 Week 1.36 3.73 3.60 1.18 0.8813 Week 3.42 8.72 11.70 6.07 7.7726 Week 3.24 9.32 11.83 11.36 2.761 Year 10.67 19.16 24.46 28.85 7.88Inception* -7.07 28.93 40.56 26.72 19.81

BLENDED PORTFOLIO HOLDINGSRANK FUND SYMBOL SHARES PRICE VALUE Date Purchased PERCENT

2 Global X Uranium URA 424.57 15.98 $6,784.57 01/30/17 7.30%3 Market Vectors Steel SLX 330.79 42.94 $14,204.33 05/02/16 15.28%5 SPDR Regional Bank KRE 137.44 58.20 $7,998.91 05/23/16 8.61%7 SPDR Bank KBE 161.27 45.70 $7,369.92 09/19/16 7.93%8 VanEck Brazil Small Cap BRF 382.28 20.05 $7,664.70 10/10/16 8.25%12 iShares Semiconductor SOXX 74.89 132.07 $9,891.32 08/15/16 10.64%14 VanEck Rare Earth REMX 544.43 19.12 $10,409.42 02/27/17 11.20%15 Market Vectors Coal KOL 923.88 13.28 $12,269.11 07/05/16 13.20%24 WTree Japan Hedged DXJ 166.08 51.62 $8,573.00 12/27/16 9.23%146 WTree USD Bullish USDU 281.89 27.55 $7,766.12 05/16/16 8.36% $92,931.40 100.00%

THIS WEEK’S INTERNATIONALTRADE RECOMMENDATIONSAt the close of trading on March 6, 2017 we will make the following trades.Proceeds from multiple fund sales should be split evenly between new pur-chases.We hold the top 10 highest ranked ETFs, but do not hold more than 2 ETFsfrom the same country or sector. There is no minimum holding period forETFs.

2/27/2017 iShares Oil Equipment IEZ 239.53 $47.08 $11,276.96 44.63 $10,708.86 -$568.10



No Trades

No Trades

Sell

Buy

PHONE: (888) 252-5372




WHAT IS THE GLOBAL MOMENTUM GUIDE?The Mutual Fund Investor Guide:Global Momentum Guide delivers astrategy which entails investing inmomentum leading exchange-tradedfunds (ETFs) and mutual funds, withthe goal of generating long-term mar-ket beating gains. Momentum invest-ing involves finding the stocks orsectors that are outperforming themarket and buying them, while avoid-ing or even shorting stocks or sectorsthat are under performing.How the Global MomentumGuide WorksEach week, the Global MomentumGuide will report updated momentumrankings along with trade advice.Subscribers receive buy, sell and holdadvice on several portfolios made upof Fidelity Select mutual funds, sectorETFs and international ETFs. In-vestors hold the top 10 funds based onour proprietary ranking system, ad-justed for correlation. When a fundfalls from the top 10, we will issue asell signal on it, and simultaneouslyissue a buy order on a rising fund thatreplaces it. Funds that remain in thetop 10 are held. The system used by the Global Mo-mentum Guide is designed to generatelong-term out performance. It is also

designed to remove human emotionfrom trading. Sometimes sell ordersare issued for sectors that are ex-tremely popular with investors andother times it will issue a hold signalon a sector experiencing a large cor-rection that has many investors pan-icking. This can result in volatilereturns, but our experience with thesystem has shown that some of thelargest gains are made in sectors thatexperience big corrections during thecourse of a bull market. One of thebiggest benefits of using the GlobalMomentum Guide is that it takes emo-tion and guesswork out of investing.Why the Global MomentumGuide WorksDifferent sectors lead the stock mar-ket at each stage of a market cycle.For instance, consumer discretionarystocks typically lead in the early stageof a bull market, technology stockslead in the middle, and consumer sta-ples lead at the end. These stages ofthe market can last for months or evenyears. Countries, commodities andcurrencies all experience the samecyclical movements as investor movein and out of investments in waves.There are many explanations forcyclical behavior in the markets, butwe don’t worry about the whys be-cause the Global Momentum Guideuses a mechanical system of technical

indicators to select investments. Thesesignals tells us which funds are lead-ing and which are lagging, and we po-sition the portfolio in the leadingfunds. If technology stocks lead in theearly part of a bull market, our systemwill pick that up and issue a buy sig-nal. Momentum investing works becauseinvestors have been reliably pre-dictable throughout history—therehasn’t been a market yet where in-vestors didn’t exhibit some cyclicalbehavior. The Global MomentumGuide is designed to capture the gainsfrom these big winners during eachbull market phase of the stock market.What Do I Get When I Subscribe?Every week you will receive an up-dated ranking of all the funds coveredin our newsletter, plus buy, hold andsell advice on each of the portfolios.How Do I Begin Following theModel?To begin following a model, purchaseequal dollar amounts of each holdingin the model. We will hold the fundsfor at least a week in the case of ETFs,and for 30 days with Fidelity Selectfunds due to a short term trading feeon Fidelity Select funds held less than30 days.

INVESTOR GUIDE TOVANGUARD FUNDSFor years, we have covered a lim-ited number of Vanguard mutualfunds. In 2014, we launched anewsletter dedicated specifically toVanguard funds and no-transac-tion-fee funds accessible to Van-guard investors. We provide numerous model port-folios, plus buy, hold and sell rec-ommendations on over 400 mutualfunds. I am confident you will findthis advice invaluable as you makeyour investment decisions. Tolearn more, call (888) 252-5372.

DISCLOSURE: Mutual Fund InvestorGuide, LLC (MFIG) is an independentcompany unaffiliated with any of thefund companies discussed in thisnewsletter, including Fidelity Invest-ments. These results include the reinvest-ment of all dividends and capital gains.Model trading does not involve financialrisk; model trading cannot completelyduplicate the financial risk associatedwith actual trading. MFIG is not an in-vestment advisor and does not providespecific investment advice. This newslet-ter has been prepared solely for informa-tional purposes. PAST PERFORMANCEIS NOT A GUARANTEE OF FUTURERESULTS. All investments involve riskincluding total loss of principal.

ETF INVESTOR GUIDEEach month we provide buy,hold and sell recommendationsfor hundreds of ETFs from com-panies including Fidelity,iShares, SPDR and Power-Shares. Additionally, you will also haveaccess to our model portfolios,specifically created for conser-vative, moderate and aggressiveinvestors. To learn more, call(888) 252-5372.

global momentum guide - mutualfundinvestorguide.com · momentum tracker newslet - ters. fidelity...

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